Feeds

Facebook, chums splash cash at social network wannabes

Jump onto my Web-2.0 love train ... bitch

Combat fraud and increase customer satisfaction

Facebook, Zynga and Amazon.com formed a pact with venture capital outfit Kleiner Perkins and a brace of media outlets yesterday, in a $250m effort to fund social media startups.

The group, which also includes Comcast, Liberty Media and investment bank Allen & Co, has been dubbed “sFund”.

It will cough up cash, legal help and capital for Mark Zuckerberg wannabes.

Facebook’s boydroid CEO told reporters at his company’s Silicon Valley headquarters yesterday that now was the perfect time for investment in social media, as the brown stream of Web2.0 continued to splatter onto the interwebs.

"There's going to be an opportunity over the next five years or so to pick any industry and rethink it," Zuckerberg said, reports Reuters.

According to Facebook, more than 70 per cent of its stalkers users play around with apps, some of which came under scrutiny earlier this week for riding roughshod over online privacy.

"We're at the beginning of a new era for social internet innovators who are re-imagining and reinventing a web of people and places, looking beyond documents and websites," said Kleiner Perkins Caulfield & Byers partner John Doerr.

"There's never been a better time than now to start a new social venture." ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.